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21 Mar 2023

The Walking and Cycling Alliance (WACA) has written to the prime minister urging him to reverse the controversial decision to cut the budget for active travel schemes in England – a move...

16 Mar 2023

Industry experts and trade associations in the retail sector have been expressing their disappointment at the support offered to retailers in the Chancellor’s Budget.

14 Mar 2023

New data shows that a majority of the UK public oppose the rising and unregulated costs British businesses face for simply accepting payments. With the cost of doing business at record levels,...

13 Mar 2023

From saving energy and lighting costs, to using biodegradable packaging and prolonging a product’s lifespan, Drapers Magazine has been looking at how independent retailers can improve...

8 Mar 2023

As the world marks International Women’s Day, the Association of Cycle Traders is among several industry organisations backing a new Diversity in Cycling campaign, a project led by the...

8 Mar 2023

Leicester residents are being offered the chance to borrow an e-bike free of charge as part of a new extended scheme to encourage more people to travel on two wheels. Would-be cyclists can loan...

7 Mar 2023

The UK economy could be boosted by £1.1 billion if one in five car journeys were taken by a shared e-scooter or e-bike, according to a new study funded by leading mobility firm Dott.

7 Mar 2023

Hundreds more bikes from Brighton’s former cycle scheme are being sent to Africa to support communities there.

2 Mar 2023

What is not in doubt is that a significant number of UK shoppers either wouldn’t make a purchase if retail finance was not available or would not spend as much as they do without being...

23 Feb 2023

The ACT will be joined by key service partners when leading trade show iceBike* returns as an in-person event for the first time since 2020 on Sunday 5th March and Monday 6th March at the...

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Get Prepared for Making Tax Digital for VAT

Posted on in Business News , Cycles News , Creative News

There is now less than three months until all VAT-registered retailers are required to submit quarterly VAT updates and annual returns via the government's Making Tax Digital (MTD) system.

MTD is designed to help businesses eliminate common reporting errors and save time spent managing tax affairs. Most retailers will already be using MTD following trial phases and requirements based on business turnover from 2019.

MTD for Income-Tax Self Assessment will be introduced in April 2024 with MTD for Corporation Tax expected from 2026 at the earliest. HMRC guidance on MTD for VAT and finding compatible software is available here.

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